Statistical data show that the number of people in employment is up by 500 thousand compared to 2010. The total number of people with a job rose to more than 4.2 million last month and the hard work of these people also shows in the volume of Hungarian exports, Deputy State Secretary for Prioritized Enterprise Relations Zoltán István Marczinkó told public news channel M1, commenting on the latest foreign trade data released by the Hungarian Central Statistical Office (KSH).

According to the KSH report, the volume of Hungarian exports and imports of goods was up by 8.2 percent and 6.8 percent year-on-year, respectively, in the period January-August 2015. In the observed period, the sector has accumulated a surplus of EUR 5.3 percent, up by EUR 1.2bn compared to the same period of the previous year. In the month of August, the value of exports and imports both grew in Euro terms by 6.2 percent year-on-year. The foreign trade sector posted a surplus of EUR 459 million, up by EUR 25 million compared to August 2014.

As Zoltán István Marczinkó pointed out, the composition of industrial production is more and more balanced; in addition to the traditional growth engine – the motor vehicle sector – foreign trade data were also improved by the performance of the pharmaceuticals sector. He stressed that every indicator points to further growth in the remainder of the year.

In terms of labour costs and productivity, the Hungarian labour force is one of the best within Europe, and it is similar to the majority of Visegrad Four countries. This factor also ensures that Hungary remains an attractive investment destination, he added.

(Ministry for National Economy)